IPPG Chair urges FG to review approval process, harmonize levies

The Chairman of the Independent Petroleum Producers Group (IPPG) and Chief Executive of Aradel Holdings Plc, Mr. Adegbite Falade has urged the Federal Government to overhaul its administrative approval processes and harmonize levies if Nigeria is to sustain its recent oil and gas gains.

Delivering the industry keynote address at the 2026 Nigeria International Energy Summit in Abuja on Monday, Falade cautioned that high operating costs and prolonged red tape are actively threatening the industry’s competitiveness.

He also commended the President Bola Tinubu administration for policy reforms that successfully boosted average liquids production to 1.64 million barrels per day in 2025.

He however maintained that regulatory inefficiencies remain a severe bottleneck.

He specifically challenged the government to harmonize overlapping fiscal levies and aggressively accelerate project approval timelines, warning that the current bureaucratic delays stall vital infrastructure deployment.

The IPPG chief emphasized that streamlining these regulatory hurdles is especially critical as indigenous companies which now account for over half of national production step up to manage assets following the divestment of major International Oil Companies.

He noted that deep private sector partnerships and cheaper, long-term financing through vehicles like the newly launched African Energy Bank will only succeed if the government removes the friction points currently driving up operational costs.

The Aradel Chief further tied the necessity of these administrative reforms to a broader economic imperative, arguing that a frictionless regulatory environment is the only way Nigeria can successfully transition from exporting raw hydrocarbons to processing them domestically.